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What is demand draft? |
| Answer» Demand Draft is a pre-paid instrument, wherein Bank by whom the DD has been made undertakes responsibility to make full payment.A method used by individuals to make transfer payments from one bank account to another. Demand drafts are marketed as a relatively secure method for cashing checks. The major difference between demand drafts and normal checks is that demand drafts do not require a signature in order to be cashed. | |